The International Organization of Securities Commissions (IOSCO) has opened its first significant presence outside of Madrid with a new regional office in Kuala Lumpur.

Apart from granting Malaysia and its Securities Commission bragging rights, it might just move along the glacial progress of Asean cross-border market initiatives.

IOSCO – whose members regulate markets with more than $140 trillion, accounting for 95% of all markets worldwide – took the step to develop capital markets and strengthen capabilities in Asia.

The idea was first seriously mooted about five years ago, and Malaysia – whose Securities Commission is an active IOSCO advocate – pitched itself as host.

“Part of our proposition was that Malaysia is uniquely placed as an advanced emerging market,” says Tan Sri Ranjit Ajit Singh, chairman of the Securities Commission and the driving force of the new hub.

Hong Kong and Singapore, though bigger markets, are not considered emerging; Malaysia is, but with sophisticated markets and regulation.

Chris is a journalist specialising in business and financial journalism across Asia, Australia and the Middle East. He is Asia editor for Euromoney magazine and has written for publications including the Financial Times, Institutional Investor, Forbes, Asiamoney, the Australian Financial Review, Discovery Channel Magazine, Qantas: The Australian Way and BRW. He is the author of No More Worlds to Conquer, published by HarperCollins.